Scoresby Inc tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system Assume its accounting records provided the following information at the end of the annual accounting period, December 31 Transactions Units Unit Cost a Inventory, Beginning 1,500 $ 20 For the year b Purchase, March 5 7,500 21 c Purchase, September 19 3,500 23 d Sale, April 15 (sold for $65 per unit) 2,400 e Sale, October 31 (sold for $68 per unit) 6,500 f Operating expenses (excluding income tax expense), $406,000 Number of Goods Available for Sale units Cost of Goods Available for Sale Calculate the number of units in ending inventory Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost SCORESBY INC Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Income (Loss) from Operations Which inventory costing method minimizes income taxes OFIFO OLIFO O Weighted Average

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Scoresby Inc  tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system  Assume its accounting records provided the following information at the end of the annual accounting period, December 31  Transactions Units Unit Cost a   Inventory, Beginning 1,500 $ 20 For the year  b   Purchase, March 5 7,500 21 c   Purchase, September 19 3,500 23 d   Sale, April 15 (sold for $65 per unit) 2,400 e   Sale, October 31 (sold for $68 per unit) 6,500 f   Operating expenses (excluding income tax expense), $406,000 Number of Goods Available for Sale units Cost of Goods Available for Sale Calculate the number of units in ending inventory  Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost SCORESBY INC  Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Income (Loss) from Operations Which inventory costing method minimizes income taxes  OFIFO OLIFO O Weighted Average

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Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year,

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Transactions	Units		Unit Cost
a. Inventory, Beginning		1,500	$	20
For the year:
b. Purchase, March 5		7,500		21
c. Purchase, September 19		3,500		23
d. Sale, April 15 (sold for $65 per unit)		2,400
e. Sale, October 31 (sold for $68 per unit)		6,500
f. Operating expenses (excluding income tax expense), $406,000


Number of Goods Available for Sale		units
Cost of Goods Available for Sale